ED Arrests Amira Pure Foods Directors in Massive Bank Fraud Case

The Enforcement Directorate detained directors Aparna Puri and Rahul Sood of Amira Pure Foods in a Rs 1200 crore bank loan fraud case. An ongoing investigation has linked them to a larger network of financial misappropriation, revealing absconding associates and significant fund diversion.

The Enforcement Directorate (ED) apprehended two directors of Amira Pure Foods Pvt. Ltd. in connection with a significant Rs 1200 crore bank loan fraud, as stated in an official release. Those detained, Aparna Puri and Rahul Sood, were taken into custody on October 8 and presented to the Special Court (PMLA) at Rouse Avenue, Delhi. The court has sanctioned their detention until October 11.

The ED's crackdown follows an investigation initiated from a CBI First Information Report, implicating the company and several individuals, including Karan A Chanana, for fraud, criminal misappropriation, and other charges under the IPC, which inflicted a substantial Rs 1201.85 crore loss on a consortium of banks led by Canara Bank. Key figures in the scandal, such as Karan A Chanana, Anita Daing, and others, are reportedly evading capture, with Chanana overseeing the global rice brand Amira.

In prior investigations, the ED seized incriminating documents and undisclosed cash worth Rs 1.01 crore. Properties valued at Rs 131.5 crore linked to Amira Group, including expansive land parcels and residences in strategic locations, were provisionally attached. The investigation revealed systematic fund diversion through shell entities and dummy directors, masked as legitimate business operations. Efforts to trace additional assets in the UK and UAE are ongoing.

(With inputs from agencies.)